China’s Tungsten Carbide Powder Price Stabilizes in the Middle of July 2022

Analysis of latest tungsten market from Chinatungsten Online

China’s ferro tungsten and tungsten carbide powder prices continue to remain stable with the domestic economic data is boosting the confidence of market participants. However, the circulation of the industrial chain is still blocked under the pressure of global economic and trade. Market trading is not active and sellers quote steadily.  

On the supply side, under the low willingness of stockholders to support the market, there is less outflow of resources at low levels, and goods at high levels are still rarely to be purchased; on the demand side, the domestic demand system is being repaired stably, but the actual increase is difficult to reflect in the off-season in July, while the overseas consumer market is slightly weak due to the uncertainty of the economic and trade environment; macroscopically, the risk of repeated COVID-19 outbreaks cannot be underestimated, the global geopolitical conflict has not been alleviated to a limited extent, and the tightening monetary measures in response to high inflation have increased the risk of economic recession in major overseas economies.

The price of high-grade tungsten concentrate is tentatively above $16,923.1/ton, and a small amount has been implemented in the transaction orders. The holders are generally reluctant to sell and are willing to stabilize the market, and downstream customers purchase goods according to their actual needs. The price of APT is testing towards the $295.5/mtu mark. Intermediate traders and downstream users remain cautious and there is still pressure to receive goods at high levels. The price of tungsten powder has stabilized at around $39.2/kg. Recently, the downstream cemented carbide and its back-end consumer market have been affected by the high temperature and off-season, and the overall purchasing power is insufficient. Due to the uncertainties in the external environment, consumers remain cautious in purchasing. 

In the first half of the year, the total value of China's import and export of goods trade was 19.8 trillion yuan, a year-on-year increase of 9.4%. Among them, exports were 11.14 trillion yuan, an increase of 13.2%; imports were 8.66 trillion yuan, an increase of 4.8%. Among them, the import and export of mechanical and electrical products was 9.72 trillion yuan, an increase of 4.2%, accounting for 49.1% of the total value of China's foreign trade import and export. The import and export of agricultural products was 1.04 trillion yuan, an increase of 9.3%, accounting for 5.2%. During the same period, the export of labor-intensive products was 1.99 trillion yuan, an increase of 13.5%, accounting for 17.8% of the total export value. Crude oil, natural gas, coal and other energy products imported a total of 1.48 trillion yuan, an increase of 53.1%, accounting for 17.1% of the total import value, according to data from the General Administration of Customs. 

Prices of tungsten products on July 15, 2022

Picture of tungsten rod 

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